Takaful Emarat announces successful capital increase, reaching Dh210 million

Takaful Emarat – Insurance PJSC, a prominent provider of innovative insurance solutions listed on the Dubai Financial Market (DFM), proudly announces the successful completion of its capital increase, bringing the total capital to Dh210,652,000. This landmark achievement was realised through a rights issue offered to existing investors, raising Dh185 million at an issuance price of Dh1.00 per new share. The success of this initiative reflects the strong confidence of shareholders and the market in the company’s leadership and strategic direction.

This capital increase comes on the heels of Takaful Emarat’s return to profitability. The company recorded a net profit of Dh8.8 million in Q3 2024, a remarkable turnaround from a loss of Dh851,000 during the same period in 2023. This positive shift is attributed to decisive measures taken earlier in the year, including the write-off of accumulated losses as part of a broader initiative spearheaded by the Board of Directors. These efforts have established a solid foundation for sustainable growth, driven by operational enhancements, improved transparency, and the delivery of cutting-edge products and services.

This milestone represents a significant step forward for Takaful Emarat and its stakeholders, setting the stage for continued success and innovation within the Takaful insurance sector.